Our friends over at Stats Canada published their Labor Force Survey for January 2013 on Friday and the news was not as good as it has been in the past few months, with 22,000 jobs less in the Canadian Economy. Unemployment did not increase though, because there were less folks looking for jobs (again, not a good piece of news either).
[Related -Market Needed a Yellen Bump and Didn't Get It.]
Employment for the Past Little While
This could be down to a post Christmas sag in jobs, but with Best Buy starting to shut down many of their big box electronics stores, this could be a pre-cursor to a larger retail drop in jobs. With the growing generation of under-employed youngsters a retail shrinkage could hurt a great deal.
Public sector employment fell by 27,000 in January, while self-employment was up slightly and the number of private sector employees was little changed. Compared with 12 months earlier, the number of private sector employees increased by 1.9% or 210,000, while the number of public sector employees and self-employed was little changed.
[Related -Will The Sluggish US Housing Market Perk Up This Year?]
Good to hear the private sector is creating more jobs, the Canadian economy relies heavily on those public servants out there, and I suspect there is going to be a great deal more cutting in the Public Sector.
Unemployment for the Past Little While (in Canada)
The unemployment graph again can be deceptive given you have less folks actually looking for jobs.
The Big Table
Here is one of the 3 Big Tables that Stats Canada supplies that breaks the information down so you can better comprehend how you fit in these numbers:
|December 2012||January 2013||December 2012 to January 2013||January 2012 to January 2013||December 2012 to January 2013||January 2012 to January 2013|
|thousands (except rates)||change in thousands (except rates)||% change|
|Both sexes, 15 years and over|
|Youths, 15 to 24 years|
|Men, 25 years and over|
|Women, 25 years and over|
Related CANSIM table 282-0087.